Harry’s impression: U.S. bosses abandon shareholder first principle


The bosses of 181 of the biggest companies in the United States have signed a letter to change the definition of a corporation’s purpose, dropping the shareholder first principle of making as much money as possible for investors. The letter called for a shift from maximizing investors’ profits to achieving wider customer and community targets, such as care for the environment. It was announced by lobbying group Business Roundtable, which is composed of chief executives such as Jamie Dimon from JPMorgan Chase, Amazon’s Jeff Bezos and Apple’s Tim Cook. The move follows mounting public and political discontent at the increasing gap between rich and poor in the U.S. and the world. 

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